Multiple institutional investors have adjusted their holdings in Meta Platforms. Central Valley Advisors LLC increased its stake by 0.3%, now holding 5,714 shares worth $3.27 million after buying 18 more shares. Cherrydale Wealth Management LLC raised its stake by 0.5%, owning 3,841 shares valued at $2.20 million. Alliance Wealth Advisors LLC grew its shares by 0.7% to 2,787, worth $1.60 million after acquiring 18 shares. Kozak & Associates Inc. boosted its holdings by 1.0%, owning 1,906 shares now valued at $1.10 million. Firethorn Wealth Partners LLC increased its position by 1.8%, owning 1,075 shares worth $615,000. Currently, institutional investors hold 79.91% of the stock.
Meta Platforms Trading Update
META stock opened at $576.47. It has a 52-week low of $279.40 and a high of $602.95. The market cap is $1.46 trillion with a PE ratio of 33.11 and a growth ratio of 1.45. The 50-day moving average is $546.53 and the 200-day is $508.76.
Meta Platforms recently revealed its quarterly earnings from July 31, reporting $5.16 EPS, surpassing estimates of $4.70. Revenue was $39.07 billion, up 22.1% year-over-year. Analysts predict an annual EPS of 21.37.
Dividend Announcement
Meta announced a quarterly dividend of $0.50 paid on September 26, resulting in an annualized dividend of $2.00 and a yield of 0.35%.
Insider Transactions
On October 15, insider Jennifer Newstead sold 905 shares for $533,922.85. She retains 33,292 shares valued at about $19.64 million. In the past three months, insiders sold 250,816 shares, totaling $132.42 million, with insiders owning 13.71% of the company.
Wall Street Analysts’ Opinions
META received attention in several research reports. Goldman Sachs raised its target price from $555.00 to $636.00 and rated it “buy.” Wolfe Research set an “outperform” rating with a $620.00 target. Barclays upped their target to $550.00 and also rated it “overweight.” Cantor Fitzgerald has a target of $670.00 with an “overweight” rating. Overall, the stock has a “Moderate Buy” rating with a consensus target of $617.37.
About Meta Platforms
Meta Platforms, Inc. develops products for social connection through mobile devices, computers, and VR devices. Its segments include Family of Apps (like Facebook and Instagram) and Reality Labs.
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